Re: Why do beginners never believe me about bankroll management?
 

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I learned the hard way that playing $5/$10 w/ a $500 bankroll is suicide. I feel like I'm doing these beginners an unbelievable favor when I tell them about bankroll management. They get to learn the easy way instead of the hard way like I did, but they NEVER EVER listen.

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Is it impossible to get through to these people? I've had this same conversation so many times, and it never gets less painful.

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Wait til you have kids, you'll get to go through it all again! (My child is only 18 months, but I know what I was like [img]/images/graemlins/smile.gif[/img] )

There is a great quote from Mark Twain that goes something like:

"My father was one of the most ignorant men I knew when I was 18. I was amazed at how much he learned by the time I turned 25."



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My dad matured even faster than Mark Twain's. [img]/images/graemlins/grin.gif[/img] By the time I turned 23 and had graduated from college, my dad was indeed a fount of wisdom.

Re: Why do beginners never believe me about bankroll management?
 

I would just like to say that the first time i saw this, it really pissed me off. I dont know why, but it kept drawing my eye and agitating me. Put me on edge and what not. For the record, i have not visited a psychologist lately. Perhaps its time to though.

Two attractive women in an embrace of love, though, that made me quite happy. after a while.

peace

john nickle

Re: Why do beginners never believe me about bankroll management?
 

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just making the point about people not listening to those who have been in similar situations.

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I was getting advice from people that had great college experiences. For the most part, the advice was not coming from people in similar situations. Although I am currently in college, I am still 100% sure that I do not "need it". I can't turn down these crazy parties though.

Re: Why do beginners never believe me about bankroll management?
 

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just making the point about people not listening to those who have been in similar situations.

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I was getting advice from people that had great college experiences. For the most part, the advice was not coming from people in similar situations. Although I am currently in college, I am still 100% sure that I do not "need it". I can't turn down these crazy parties though.

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I learned the hard way that playing $5/$10 w/ a $500 bankroll is suicide. I feel like I'm doing these beginners an unbelievable favor when I tell them about bankroll management. They get to learn the easy way instead of the hard way like I did, but they NEVER EVER listen.


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Same person made both the above posts. Anyone else see the irony?

Re: Why do beginners never believe me about bankroll management?
 

I do.

Not going to college would be the biggest mistake of Zee's life. I would bet everything I own on it, and that is a +EV bet.

Life is all about options. If you do not go to college this is how many good ones you have =

0

Re: Why do beginners never believe me about bankroll management?
 

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Is it impossible to get through to these people?

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Yes. Many people suck at poker. This is nothing more than another manifestation of this sucktitude. They won't get it.

My standard conversation goes like this:

Friend: How much did you make playing poker last month, Doug?
Me: X
thought bubble: Doug is a f-ing idiot. If he can make X, I can make 2X, at the very least
Friend: Cool. I'm going to start playing.
Me: Blah Blah Blah bankroll, blah blah blah study, blah blah blah start small etc.
thought bubble: Doug doesn't want anyone stealing his thunder. Any idiot can beat the games he plays in
Friend: You got it buddy. .50/1 games for me until I get my 300BB roll for 1/2! Hooray!

Re: Why do beginners never believe me about bankroll management?
 

confusing, yet very funny.

my super suck friend told me in not so many words that he is better than me and that I can't keep up winning like I do, I guess 100,000+ hands in a year isn't good enough for him [img]/images/graemlins/confused.gif[/img]

I've offered to play him HU several times, yet he declines. A few times it was because he'd only play me at $5/10 (funny because at that time i didn't have a BR for it, and he KNEW this). And then when I did offer to play him say like a HU NL freezeout on pokerpages for like $30, he declined, even when I offered him to start with 12k to my 8k in chips. haha

Re: Why do beginners never believe me about bankroll management?
 

I learned the hard way that playing $5/$10 w/ a $500 bankroll is suicide.

Not really. If you are a 1 bb/hr winner with a 10 bb/hr Sd you have a 64% chance of never busting. (using BruceZ's formula).

If your friends want to take their chances that is a matter of individual risk tolerance and personal preference. There is no right bankroll. Of course your friends may not fully appreciate the risks, and that is another matter.

This thread got me thinking about two imaginary players. Both have $500, win 1 bb/hr at each level, and have an SD of 10 BB/hr. Each player wants to accumulate 15000 and play 15/30. Player A starts at 0.5/1 and moves up whenever he has 500 BB for the next level. Player B starts at 2/4 and moves up whenver he has 100 BB for the next level.

Assuming player B would need to take 8 weeks off if he busts to scrape together another $500 and that each player plays 20 hrs/wk, on average who will reach 15000 first?

My calculations may be off, but I figure on average player B will need 72 weeks and player A will need 116 weeks. If he does not bust, player B only needs 32 weeks. He will then make an extra $50,000 while player is building up to 15/30 over weeks 32-116. On average player B will make an extra $26000.

It seems to me the risk is worth taking.

Paul

Re: Why do beginners never believe me about bankroll management?
 

"Not really. If you are a 1 bb/hr winner with a 10 bb/hr Sd you have a 64% chance of never busting. (using BruceZ's formula)."

You cant know if you are a 1bb/hr winner without having played many hands at your desired limit. Even if you have 100.000 hands of 5/10 under your belt, you dont know if you will be able to play your perfect game when only having 50 BB. I even dont think this is possible for anyone.

Re: Why do beginners never believe me about bankroll management?
 

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If you are a 1 bb/hr winner with a 10 bb/hr Sd you have a 64% chance of never busting.

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I was not a 1 bb/hrwinner, and my SD was well above 10 bb/hr.

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you have a 64% chance of never busting.

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That number is waaaaay to high already.